Is Little Neck, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Little Neck is a neutral's market

Buyer's
Market

Difference Since October 2023

Since last year, Little Neck has remained a Neutral Market.

Key Takeaway

Little Neck is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Little Neck, NY

How much do homes in Little Neck, NY cost?

Median Sold Price

$1,140,000

$553/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$140,001(+14.0%)

Key Takeaway

Homes in Little Neck have sold for 14% more than they did a year ago.

Summary: The median home sold price in Little Neck was $1,140,000 in October 2024, up 14% from last year, and the median price per square foot was $553.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $259K$235K
-9.3%
2 $920K$841.9K
-8.5%
3 $915K$988K
+8.0%
4 $1.0M$1.2M
+14.3%
5+ $1.3M$2.4M
+80.0%

Summary: Little Neck housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.3%, 2 bedroom homes decreased by 8.5%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 80%.

Median Sold Price Compared To Nearby Neighborhoods

Little Neck
+14.0%
Glen Oaks
+5.0%
University Gardens
+4.2%
Northeastern Queens
+3.2%
Douglaston
-2.7%

Housing Supply in Little Neck, NY

How many homes are available in Little Neck, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4548+6.7%

Summary: The Little Neck real estate market had 48 homes for sale in October 2024, a 6.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 21
-50.0%
3 1315
+15.4%
4 1413
-7.1%
5+ 1316
+23.1%

Summary: The Little Neck housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 23.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
58+60.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Little Neck, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Little Neck in October 2024, up by 60.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.

Days on Market for Little Neck, NY

How long does it take to sell a home in Little Neck, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days59 Days+111.3%

Summary: Homes in Little Neck had an average of 59 days on market in Oct 2024, up by 111.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Little Neck has remained consistent over time.

Summary: During October 2024, 8 homes were sold in Little Neck; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

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